PAGCOR Unveils New Framework to Tackle Offshore Gaming Activities

In a concerted effort to combat illegal activities linked to offshore gaming operations, PAGCOR has taken a bold step by introducing a comprehensive regulatory framework for offshore gaming licensees. Atty. Jessa Fernandez, PAGCOR’s Assistant Vice President for Offshore Gaming Licensing, revealed the details during a Senate Committee Hearing on August 2, 2023.

Revision of license applications

Under the new framework, in effect since July 2023, all licensees and service providers have been placed on probationary status and were directed to re-apply until September 17, 2023. The revised process includes mandatory license applications for all Service Providers accepting bets. Additionally, PAGCOR will conduct a thorough evaluation of the beneficial owners of these companies to hold them accountable for any involvement in illegal activities.

Notably, entities found engaging in activities outside the scope of their granted license or accreditation will not be granted a license under the new framework. Furthermore, licensees or service providers who fail to re-apply or are not granted a license within the given period will face endorsement for cancellation.

PAGCOR’s proactive approach doesn’t stop there. The regulatory body has been collaborating with other government and law enforcement agencies to establish offices within an accredited hub, facilitating seamless coordination and information sharing.

Coordination with government agencies

To impose stricter adherence to regulations, PAGCOR has also implemented reforms that include intensified inspections and verification of compliance among offshore gaming licensees and service providers. Any reported findings will be submitted to enforcement agencies for investigation and verification, ensuring a thorough crackdown on non-compliance.

Moreover, PAGCOR emphasizes enhanced coordination with relevant government agencies, strengthening the collective effort to combat illicit activities associated with offshore gaming. In addition, the regulatory body is imposing heavier penalties on erring licensed offshore gaming operators and accredited service providers to serve as a strong deterrent against potential violations.

With this new regulatory framework and a resolute commitment to address offshore gaming challenges, PAGCOR is determined to create a safer and more transparent gaming environment for the benefit of all stakeholders involved.